Markets Update:

Asian markets were broadly higher today, as the geo-political tensions in the region continue to de-escalate. President Trump’s optimism of the outcome of talks with North Korea have been viewed as a signal of the administration’s positive outlook on the planned summit.

The yen continues to fall as risk sentiment improves. The falling yen has propped up the Nikkei, while the macro economic news continues to be neutral. The trade summit between Trump and PM Abe concluded without any major breakthroughs.

ASX also positive, miners gained sharply, from the commodity bounce. Chinese markets gained, on the back of easing of liquidity concerns and the Commerce Ministry’s new anti dumping duties on rubber imports.

Oil prices hit new highs last seen in 2014, which in turn put pressure on fixed income assets given the potential to raise inflation globally. The dollar remained rangebound today against most majors. Yields on U.S. two-year Treasuries stood at levels last visited in 2008 at 2.43 percent.

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